I just thought of the perfect Bitcoin scam

[TonyT]

For noobs, you would have a website that says: "generate a random new Bitcoin address from your browser!  No need to use your digital wallet, try it today!"  The noob would click on the link, and the bitcoin address would in fact be the address of the scammer.  Noob would cut and paste this into their wallet, online or offline, and hit "Send", when they are transferring money between their different wallets, thinking they are sending themselves money.  But any money sent by noob would go to scammer and not into noob's wallet, since it is the scammer's bitcoin address, and not a random new bitcoin address.

A foolproof scam.  Or am I the fool who is missing something?

[Nobitcoin]

Wouldn't the noob notice that firstly the website only produces one address and why would he use an address that he got from a website?

[CryptoCarmen]

For noobs, you would have a website that says: "generate a random new Bitcoin address from your browser!  No need to use your digital wallet, try it today!"  The noob would click on the link, and the bitcoin address would in fact be the address of the scammer.  Noob would cut and paste this into their wallet, online or offline, and hit "Send", when they are transferring money between their different wallets, thinking they are sending themselves money.  But any money sent by noob would go to scammer and not into noob's wallet, since it is the scammer's bitcoin address, and not a random new bitcoin address.

A foolproof scam.  Or am I the fool who is missing something?

You would get rich in no time. But how to attract people using your site? Maybe make an signature campaign here?

[1Referee]

For noobs, you would have a website that says: "generate a random new Bitcoin address from your browser!  No need to use your digital wallet, try it today!"  The noob would click on the link, and the bitcoin address would in fact be the address of the scammer.  Noob would cut and paste this into their wallet, online or offline, and hit "Send", when they are transferring money between their different wallets, thinking they are sending themselves money.  But any money sent by noob would go to scammer and not into noob's wallet, since it is the scammer's bitcoin address, and not a random new bitcoin address.

A foolproof scam.  Or am I the fool who is missing something?

From noobs. For noobs....

I think the "noobs" are getting less "noob" nowadays, or atleast that's what I was thinking 

[TonyT]

You would get rich in no time. But how to attract people using your site? Maybe make an signature campaign here?

Sorry, what is a signature campaign?

[lynn_402]

The problem is that those who would be noobish enough to use it are the same people who only owns fraction of bitcoins which they got on faucets.

Or at least most of them.

So it probably wouldn't be worth the hosting costs of the website.

[TonyT]

Wouldn't the noob notice that firstly the website only produces one address and why would he use an address that he got from a website?

(1) you can give several addresses, but put the fake one at the top, and the rest being OK.  Chances are they will take the top one.

(2) http://btcaddr.es/gen  <--bitcoin address generator.  Why I have no idea

[TonyT]

The problem is that those who would be noobish enough to use it are the same people who only owns fraction of bitcoins which they got on faucets.

Or at least most of them.

So it probably wouldn't be worth the hosting costs of the website.

I think you are right lynn.  BTW, I have ordered some bitcoin, and it will be delivered in a week's time, but for fun, if you want, send me some 'dust' (sounds like drugs?!) so I can play around with sending and receiving bitcoin.  My public bitcoin address is in my profile, and is:  135D1oL8Ud6cCJZaSZ34pU2qrpC81xPQTi    I can send it back to you if the amount covers the transaction costs.  The smallest amount you can send is something like 0.00015 I think, or about a nickle in USD.

[lynn_402]

The problem is that those who would be noobish enough to use it are the same people who only owns fraction of bitcoins which they got on faucets.

Or at least most of them.

So it probably wouldn't be worth the hosting costs of the website.

I think you are right lynn.  BTW, I have ordered some bitcoin, and it will be delivered in a week's time, but for fun, if you want, send me some 'dust' (sounds like drugs?!) so I can play around with sending and receiving bitcoin.  My public bitcoin address is in my profile, and is:  135D1oL8Ud6cCJZaSZ34pU2qrpC81xPQTi    I can send it back to you if the amount covers the transaction costs.  The smallest amount you can send is something like 0.00015 I think, or about a nickle in USD.

Sending BTC dust isn't convenient because of the minimum transaction amount and network fees, but if you'd like to try playing with Dogecoin just write your address and I'll send you a few.

[TonyT]

Sending BTC dust isn't convenient because of the minimum transaction amount and network fees, but if you'd like to try playing with Dogecoin just write your address and I'll send you a few.

I might take a raincheck on that, thanks.  I barely understand bitcoin; adding dogecoin to the mix might blow my mind!  Maybe later...

[lynn_402]

Sending BTC dust isn't convenient because of the minimum transaction amount and network fees, but if you'd like to try playing with Dogecoin just write your address and I'll send you a few.

I might take a raincheck on that, thanks.  I barely understand bitcoin; adding dogecoin to the mix might blow my mind!  Maybe later...

It's basically the same thing; the biggest differences are that it uses a different algorythm to be mined, and of course the value is much lower.

[RickDick]

The thing is, the audience would be so niche.  Bitcoin "noobs" who know how to send money but don't know how to properly create a secure wallet?

[TonyT]

The thing is, the audience would be so niche.  Bitcoin "noobs" who know how to send money but don't know how to properly create a secure wallet?

It's a big world out there RickDick.  There are people who buy PCs and don't know how to plug them into a wall socket and turn them on.  If Bitcoin goes mainstream I bet USA Today runs a story about this 'scam', lol.  And, the target audience would be a first time bitcoin noob who has never sent money (that includes me).  For example, it might be a "HOW TO" FAQ article that says: "to test your first bitcoin receive money procedure, do this:...cut and paste one of these randomly generated bitcoin addresses into your wallet" and then "...now, from your online account, send bitcoin to this address in your wallet..." and so forth.

[coolcoin]

For this to work you must name your website secure free online wallet. Then create a signature campaign. profit and your soul in hell.

[sidhujag]

Doesnt make sense... why would someone use a bitcoin generator since the address must be tied to your wallet? Who's wallet would these generated bitcoins belong to is the first question anyone would ask.. why would you send coins to a generated address that is not generated by your wallet? I think anyone who buys bitcoin will understand this.

[TonyT]

Doesnt make sense... why would someone use a bitcoin generator since the address must be tied to your wallet? Who's wallet would these generated bitcoins belong to is the first question anyone would ask.. why would you send coins to a generated address that is not generated by your wallet? I think anyone who buys bitcoin will understand this.

I notice (and maybe I'm wrong since I've never actually sent or received a bitcoin) that some online services like blockchain.info have a service that says 'paste your bitcoin address here to receive bitcoins that you store here on blockchain.info'.  Now the second assumption is that you have a wallet that allows you to cut and paste a bitcoin address into the field for receiving--I'm not sure such a thing exists--but if it does, either in online form or hard drive local form, that would be the second element required.

[BADecker]

A foolproof scam.  Or am I the fool who is missing something?

Here's what you are missing. Some folks would call this a scam. But I call it Ponzicoin, not a scam at all.

https://bitcointalk.org/index.php?topic=825091.msg9217031#msg9217031

[bitbunnny]

Seems that is not so perfect as you thought...

[sidhujag]

I think you should read the spec.

You need to control your private key to access your coins.. if you give your private key to anyone they are gone.

Some sites let you create addresses showing a pvt key input and hash160 I think its just to verify algorithms and for informational purposes only..

[TonyT]

Some sites let you create addresses showing a pvt key input and hash160 I think its just to verify algorithms and for informational purposes only..

Maybe...that explains the link I cited...perhaps it was just a programmer's aid for coming up with legal Bitcoin addresses.